§ 2216. — Rate of interest.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 33USC2216]
TITLE 33--NAVIGATION AND NAVIGABLE WATERS
CHAPTER 36--WATER RESOURCES DEVELOPMENT
SUBCHAPTER I--COST SHARING
Sec. 2216. Rate of interest
Whenever a non-Federal interest is required or elects to repay an
amount under this Act over a period of time, the amount to be repaid
shall include interest at a rate determined by the Secretary of the
Treasury, taking into consideration the average market yields on
outstanding marketable obligations of the United States with remaining
periods to maturity comparable to the reimbursement period, during the
month preceding the fiscal year in which costs for the construction of
the project are first incurred (or in the case of recalculation the
fiscal year in which the recalculation is made), plus a premium of one-
eighth of one percentage point for transaction costs; except that such
rates for hydroelectric power shall be in accordance with existing law.
(Pub. L. 99-662, title I, Sec. 106, Nov. 17, 1986, 100 Stat. 4089.)
References in Text
This Act, referred to in text, is Pub. L. 99-662, Nov. 17, 1986, 100
Stat. 4082, as amended, known as the Water Resources Development Act of
1986. For complete classification of this Act to the Code, see Short
Title note set out under section 2201 of this title and Tables.
Section Referred to in Other Sections
This section is referred to in sections 2211, 2213 of this title.
